Market Analysis and Insights: Global Sugar Toppings Market
Sugar toppings market is set to witness a substantial CAGR of 6.25% in the forecast period of 2019- 2026. The report contains data of the base year 2018 and historic year 2017. Increasing demand for breakfast syrup & beverage sauces and growing demand for sugar toppings are the factor for the market growth.
Market Definition: Global Sugar Toppings Market
To improve the flavor and to provide stylish looks, sugar toppings are used as a topping or as an ingredient in confectioneries and bakery products. Dry sugar topping and wet sugar topping are two of the common types of the sugar toppings. It made of fine grained sugar which is finely compressed and transformed into powdered sugar. They are widely used in chocolate, baking, chewing gum among others.
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Market Drivers:
• Increasing consumption of confectionaries will drive market growth
• Growing demand for low sugar topping products will also accelerate the growth of this market in the forecast period
• Rising disposable income acts as a market driver
• Growing popularity of ready- to eat food is another factor boosting this market growth
Competitive Analysis:
Global sugar toppings market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of sugar toppings market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Market Restraints:
• Fluctuation in the price of the raw material will hinder the growth of this market
• Intake of sugar can increase the risk of heart disease also restricts the market growth
• Sugar intake can increase cellular aging which will also restrain the market growth
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Segmentation: Global Sugar Toppings Market
By Type
o Dry Sugar Toppings
o Dried Icing Sugar
o Sprinkles
o Flavored Sugars
o Moisture Resistant Icing Sugar
o Wet Sugar Toppings
o Beverage Sauces
o Breakfast Syrups
By Channel
o Industrial
o Grocery
o Food Service
By Nature
o Organic
o Conventional
By End- User
o Bakery, Confectionary
o Dairy
o Ready- to- eats Snacks
o Convenience Foods
o Packaged Foods
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Key Developments in the Market:
• In October 2018, Kraft Heinz announced their partnership with The Hershey Company so they can launch Hershey’s Milk Chocolate and Reese’s Peanut Butter Cup dairy whipped toppings. These new topping is made from 100% real cream cow and doesn’t have any oil ingredients, artificial flavours and high-fructose corn syrup
• In August 2016, Rich Products Corporation announced the launch of their new product called Café Whip which is the dairy-alternative whipped topping made with coconut milk. This is specially made of bakery cafes, coffee shops and other foodservice operations. Instead of high-fructose corn syrup it contains sugar and has no hydrogenated oils. It also contains less fat than heavy whipping cream sweetened and flavored
Key Market Competitors:
Few of the major competitors currently working in the global sugar toppings market are The J.M. Smucker Company; The Hershey Company; The Kraft Heinz Company; Baldwin Richardson Foods Co.; MONIN; W.T. Lynch Foods Limited; Regal Food Products Group Plc; The Quaker Oats Company,; Ck Products Llc; Ghirardelli Chocolate Company; Paulaur Corporation.; Nimbus Foods Ltd; Wafer Limited; Sanders and Morley Candy; I. Rice & Company Inc.; Hermes.; NZ Sugar Company Ltd; Chobani, LLC.; CSM Bakery Solutions; among others.
Research Methodology: Global Sugar Toppings Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
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